Budget 2011

ALLOCATION FOR SOCIAL SECTOR INCREASED BY 17% TO RS.1,60,887 CRORE. ALLOCATION FOR BHARAT NIRMAN PROGRAMME INCREASED BY RS. 10,000 CRORE. PLAN ALLOCATION FOR EDUCATION HIKED BY 24% AND HEALTH BY 20%. ELIGIBILITY FOR OLD AGE PENSION SCHEME REDUCED FROM 65YEARS TO 60. ALLOCATION FOR INFRASTRUCTURE INCREASED BY 23.3% TO RS. 2,14,000 CRORE. CREDIT TO FARMERS TO BE INCREASED TO RS. 4,75,000CRORE. FISCAL DEFICIT PEGGED AT 4.6% OF GDP. GOVERNMENT TO BORROW RS. 3.43 LAKH CRORE FROM THE MARKET. EXTENSION OF NUTRIENT BASED SUBSIDY TO COVER UREA UNDER ACTIVE CONSIDERATION. EXEMPTION LIMIT FOR INCOME TAX RAISED BY Rs. 20,000 TO RS. 1,80,000 MINIMUM ALTERNATE TAX INCREASED FROM 18 TO 18.5%. ONE PERPCENT CENTRAL EXCISE DUTY IMPOSED ON 130 ITEMS. LOWER RATE OF EXCISE DUTY RAISED FROM 4 TO 5%. SERVICE TAX HIKED ON DOMESTIC AND INTERNATIONAL AIR TRAVEL. DIRECT TAXES CODE TO BE EFFECTIVE FROM APRIL 2012 AND IMPLEMENTION OF GST IS ON COURSE.